By Travis Morgan, CFA, CIPM
In September, Advent Software and Ashland Partners announced the release of the Ashland Assist Extract report. Since then, we’ve received positive feedback from firms that have started using it, mainly how much time the report is saving them.
The goal of this report when we initially contacted Advent, was to provide a solution to an ongoing issue of having our clients run multiple reports in order for us to complete our testing procedures. This can be a very time consuming process depending on the size of the firm. The extract report solves this issue and then some.
Very similar to our current Ashland Performance Extract, the user determines whether they run the Ashland Assist on specific composites or a pre-determined group of composites. Our recommendation would be to create a group of all of the firm’s composites, including the composites not currently being tested by Ashland Partners. The report itself does not take long to run but can be quite large in size, which is why some firms choose to delete the file after it’s been uploaded to the Portal.
The extract report includes the following information:
- Month end holdings and market values for all accounts within the composites selected, for the period under review.
- List of all transactions that occurred during the period for all accounts within the composites selected, inclusive of commissions paid.
- Detailed performance files (.pbf/.prf) for all accounts within the composites selected.
- Composite membership (.cpg) files for all composites selected.
- Composite dispersion reports for all composites selected. The data within these reports can be used to populate the composite’s compliant presentations.
Firms that utilize this report will see a drastic improvement in efficiencies by cutting down the back and forth with Ashland Partners. If you need any assistance downloading or setting up the Ashland Assist Extract, please contact your engagement team or Travis Morgan at 541.842.8405 or firstname.lastname@example.org.